GST revenue collection for August stands at Rs 86,449 crore: Finance Ministry

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New Delhi: The Union Ministry of Finance on Tuesday (September 1, 2020) said that the gross Goods and Services Tax (GST) revenue collected in August 2020, stood at Rs 86,449 crore of which CGST is Rs 15,906 crore, SGST is Rs 21,064 crore, IGST is Rs 42,264 crore (including Rs 19,179 crore collected on import of goods) and Cess is Rs 7,215 crore (including Rs 673 crore collected on import of goods).

As per reports, the government also settled Rs 18,216 crore to CGST and Rs 14,650 crore to SGST from IGST as regular settlement.

The total revenue earned by Central Government and the State Governments after regular settlement in the month of August 2020 is Rs 34,122 crore for CGST and Rs 35,714 crore for the SGST.

The revenues for the month are 88% of the GST revenues in the same month last year. During the month, the revenues from import of goods were 77% and the revenues from the domestic transaction (including import of services) were 92% of the revenues from these sources during the same month last year.

“It may also be noted that the taxpayers with turnover less than Rs 5 crores continue to enjoy relaxation in the filing of returns till September,” said the Finance Ministry.

The chart below shows trends in monthly gross GST revenues during 2021.